QLD receives fair share of Federal Disaster Ready Fund
RACQ has commended the Federal Government for allocating $84 million out of its $200 million Disaster Ready Fund to Queensland.
As one of the State’s leading insurers, RACQ also welcomed news that the majority of this funding will be matched by the Queensland Government, councils and other sources to pay for 50 large and small disaster resilience projects right across the State, from the Gold Coast up to Pormpuraaw in far north Queensland.
Big ticket projects include $18 million for a Flood Resilience Program in south east Queensland, $8.6 million for a reservoir in Gladstone and $4 million for a disaster readiness project in the Lockyer Valley.
There is also a strong focus on coastal protection, including sea wall construction to protect the State’s beaches, and improved stormwater and catchment management.
General Manager Advocacy Joshua Cooney said this long-awaited funding will help to future-proof at-risk Queensland communities, who have been devastated by natural disasters time and time again.
“RACQ and other groups have repeatedly called for Queensland to get its fair share and the Federal Government has answered the call,” Mr Cooney said.
“It’s great to see Queensland’s growing climate risk being taken seriously with 42% of this national fund being allocated to our state alone, which is double our share of the national population (20%).
“This first round of unprecedented disaster ready funding from the Federal Government is a good initial step towards protecting more vulnerable Queenslanders from natural disasters.”
Mr Cooney said while it was great to see this funding now flowing, mitigation takes time.
“Building large and complex infrastructure, like flood levees, won’t happen overnight, so it’s important to get these projects underway as soon as possible.
“The Roma flood levee is a great example of how this type of funding can significantly reduce a community’s risk of damage in severe weather events; we want to see more success stories like this in other at-risk Queensland towns and cities.”
Today’s announcement follows the Federal Government’s decision to allocate 10% of the fund to the highly popular and successful Household Resilience Program for cyclone retrofitting, with works including new and upgraded roofs and window coverings.
“RACQ would like to see more home resilience programs and effective infrastructure projects funded in future rounds with the assistance of the joint government-insurer forum known as the Hazard Insurance Partnership (HIP).
“Projects that have significant impacts on risk are the only way governments, insurers and communities will turn the dial on insurance affordability and accessibility.”
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